Bartlett & CO. Wealth Management LLC Increases Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Bartlett & CO. Wealth Management LLC grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 596,475 shares of the company's stock after purchasing an additional 16,914 shares during the period. Bartlett & CO. Wealth Management LLC owned about 0.22% of McCormick & Company, Incorporated worth $49,096,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Salem Investment Counselors Inc. raised its stake in McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after buying an additional 336 shares in the last quarter. Curio Wealth LLC acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $30,000. Ameriflex Group Inc. purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Twin Tree Management LP purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Finally, Lee Danner & Bass Inc. acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth $37,000. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $77.63 on Friday. The firm has a market cap of $20.82 billion, a P/E ratio of 26.68, a P/E/G ratio of 3.70 and a beta of 0.68. McCormick & Company, Incorporated has a 52-week low of $69.00 and a 52-week high of $86.24. The business's 50-day moving average price is $74.32 and its 200 day moving average price is $76.74. The company has a quick ratio of 0.25, a current ratio of 0.65 and a debt-to-equity ratio of 0.57.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.67%. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. On average, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a $0.45 dividend. The ex-dividend date is Monday, July 7th. This represents a $1.80 annualized dividend and a yield of 2.32%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, VP Gregory Repas sold 2,750 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, the vice president now directly owns 2,266 shares of the company's stock, valued at approximately $184,497.72. This represents a 54.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the sale, the director now owns 247,437 shares of the company's stock, valued at $20,242,820.97. This trade represents a 16.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on MKC. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Citigroup decreased their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, June 17th. Finally, UBS Group began coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $84.13.

McCormick & Company, Incorporated Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.

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